Cash Cows Inaugurates Its First Edition Of ‘ Soonicorns’, An Annual Get-Together Dedicated To Breeding Egypt’s Upcoming Unicorns

• The event was attended by key industry leaders and brand representatives.
• The event covered the next biggest trends in the digital transformation space and shared tips and tricks for brands to remain relevant and disrupted.
• Cash Cows Managing Partners announced CC fund and a new formulated SPAC

November 11, 2021, Cairo, Egypt – Today, Cash Cows, Egypt’s biggest VC consortium, ‘the money makers’, inaugurated its first edition of ‘Soonicorns’, an annual premium, exclusive and by invite-only get-together, hosted by the company, at The JW Marriott Hotel New Cairo, for the wider digital transformation, fintech and digital payments industries region-wide, to present to the industry the soon-to-be unicorn startups, bred inside Cash Cows’ different incubation programs. 

As new mindsets and trends come out as a result of the data-driven digital transformation of the economy and the pandemic, the face of businesses is in a dire need for re-engineering. 

Ahmed Reda, CEO and Managing Partner, Cash Cows said: ‘ We’re humbled that Cash Cows since its launch has been an instrumental counterpart of the wider entrepreneurial ecosystem and that we’ve boosted, supported and empowered 13 of the leading startups incubated inside our portfolio, which is now of total worth $100 Million’

‘Moreso, and as part of our exponential growth, we’d like to seize this opportunity to unveil our upcoming fund for the year 2022 with a total investment of $10 Million. This fund will be aiming at further-supporting the current startups and include more of them’, Reda added.

Mohamed Nagaty, Partner, Cash Cows, commented: ‘ We’re beyond grateful for the extraordinary trust that has been put in us by the leading startups, companies, government and investors, the thing that skyrocketed our entrepreneurial impact. We remain committed to our macro goal of boosting tech-led startups and SMEs and breed Egypt’s upcoming unicorns’ 

‘As we come together to celebrate the inaugural edition of our ‘Soonicorns’, I’d like to announce the soon-to-be launched SPAC ( Special Purpose Acquisition Company), in a huge step towards the future. This move comes in alignment with all FRA requirements and based on the new amendment that allows SPAC formation and after working closely with the FRA team and having a team dedicated to forming the SPAC. The SPAC will be a technology-focused acquisition and it’ll be named after our event ‘Soonicorns’. Soonicorns SPAC will be launched after the completion of all regulatory-compliant work.” Nagaty added.

The event was sponsored by Foodics, an end-to-end POS and restaurant management tech solutions regional provider, Intalio, a global leading digital transformation firm for governments and big enterprises and ALEX Bank, one of Egypt’s leading private sector banks, part of the Intesa Sanpaolo group since  2007. 

Ramez Al Kara, Senior Vice President, Intalio, said :”It is always our pleasure to support digital transformation efforts. We want to be an integral part of the government digital transformation vision. We believe soonicorns is an initiative in the right direction’

”We are thrilled to sponsor an event that brings together all the tech ecosystem movers and shakers. Egypt is an integral part of our vision and we are here to build strategic partnerships to enable the digitization in the F&B industry and beyond, and support its growth by revamping the overall management experience. ” Omar Knio, Head of Brand, Foodics

The event featured two thought-provoking panel discussions, shedding spotlights on the impact of digital Transformation on startups, SMEs and how COVID-19 was a great catalyst for digitization. 

The program also included keynote talks by Ahmed Reda, CEO of Cash Cows, Mohamed Nagaty, Partner, Cash Cows, and Hossam Abdel Kader, Executive Director of Entrepreneurship, GAFI. The trio keynote speakers took the audience through the content experience of the event, paving the way for the two panel discussions. 

The audience were meticulously handpicked representing high-profile relevant government delegations, chairmans and CEOs of the leading banks and fintechs as well as some of the highly-valued Egyptian startups and SMEs.